A daily bulletin published by the U.S. government that provides a record of federal actions. It typically includes executive orders, new federal regulations, and certain other documents related to various sectors including real estate.
A Federally Related Mortgage is a mortgage loan that is governed by federal laws and regulations due to involvement by federal agencies, ensuring compliance and protection for both lenders and borrowers.
A federally related transaction refers to a real estate transaction that is governed and regulated by federal agencies such as the Federal Reserve Board, FDIC, OCC, OTS, NCUA, Fannie Mae, Freddie Mac, FHA, and the Department of Veterans Affairs. For the transaction to be valid, it necessitates real estate appraisal conducted by state-licensed or certified appraisers.
